This is the third article in a series of articles about Buying and Selling a Home in New York State. Click here for the first installment in the series. Subscribe to this blog for future installments.
Q. When Should I Get a Real Estate Attorney Involved in the Transaction?
A. Whether buying or selling a home, you should get your attorney involved as soon as possible. When you are not feeling well, you go to your doctor, explain your symptoms, ask what is wrong, and what you need to do to get better. Similarly, you should explain to your attorney what you plan to do and ask how you can best accomplish your goal.
Unfortunately, many clients come to us after they have signed a listing agreement with a real estate broker or after they have an accepted offer on the home. At that time they may already have a binding contract that exposes them to serious unintended consequences. They may have also already signed a Property Condition Disclosure Statement, which may put them at risk of litigation.
With any transaction, especially a major transaction like the purchase or sale a home, it is important to “count the costs” before committing to the purchase or sale. Your attorney can help you to determine what you may want to consider when counting the costs.
The next installment of this series will answer the question, “How can I count the costs when buying a home?” Future installments of this series will address counting the costs when selling your home and some of the serious unintended consequences you could face.
William E. Duquette, Jr. is an associate on the firm’s Real Estate Team. He can be reached by phone at 845-778-2121 toll free or 845-778-2121 and by email.